Crypto Circle Scholar: Is the Ethereum market going to experience drastic fluctuations on December 19? How should you respond in a sharp decline?
The current price of Ethereum is 3700. It is now 4:35 AM Beijing time. Before yesterday's report, the Ethereum price was 3940 and has now dropped more than 200 points. I have said that the market is never short of opportunities. As long as we protect the chips in our hands, the bus we are waiting for will naturally come. The major support point is approaching quickly, whether it can reach it is still unknown; just wait. Do not chase after the market during sharp rises and falls; wait for the stop loss to be confirmed.
The daily K-line had a highest point of 3910 and a lowest point of 3630, temporarily breaking the EMA30 support at the critical point of 3645. The bearish trend is very strong in the short term, with MACD decreasing in volume, DIF and DEA still spreading at high levels. The Bollinger Bands are showing a contraction, and the K-line has dropped below the middle line of the Bollinger Bands at 3815. Pay attention to the lower support point at 3540 as a trial point for long positions. After the KDJ crosses downward, it starts to spread. In the overall trend of a sharp decline, wait for the stop loss; do not engage in chasing high and selling low to prevent both sides of the main force from clearing.
The four-hour K-line has already broken the EMA120 trend indicator support at 3770, and now support has turned into resistance. MACD is decreasing in volume, and both DIF and DEA have fallen below the 0 axis. The lower line of the Bollinger Bands at 3750 has been broken. The K-line has entered the oversold phase, and it is not far from extreme overbought. Prepare to get in decisively at the position; do not hesitate. Those looking to short can pay attention to the support zone in the range of 3550 to 3500. If it does not break, profits can be taken again. Conservative traders should enter in this range and manage their positions well.
Short-term reference: Safety first. Remember, the market is never a hundred percent certain, so always set stop-losses. Safety first; small losses and big profits are the goal.
Shorting trial point: 3750 to 3800, stop-loss at 50 points, target looking at 3700 to 3650, breaking position looking at 3600 to 3550.
Going long trial point: 3550 to 3600, defense at 3500, stop-loss at 50 points, target looking at 3650 to 3700, breaking position looking at 3750 to 3800.
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